A CRITICAL ASSESSMENT OF THE DETERMINANTS OF INVESTMENT IN NIGERIA
ABSTRACT
In recent times there has been growing concern about the rising but volatile rate of investment in Nigeria. This concern stems from the fact that investment play a dominant role in stimulating growth. The study buttress on the overview and empirical analysis into the determinants of investment in Nigeria.
In order to achieve the objectives hypothesis was stated with the purpose of achieving current and future stable upswing of investment by re-addressing problem of investment as highlighted in the statement of the problem.
The study used investment as the dependent variable and government expenditure, tariff , real interest rate and capital stock as the independent variable. In analyzing the data, economic model of multiple regression using ordinary least square (OLS) technique was employed. That t-test conducted indicates that government expenditure, tariff and real interest rate. Not statistically significant at 5 percent level. Normality test and heteroscedaticity test were employed as the second order test.